Bitcoin
Bitcoin, Binance, Ethereum, Solana, and Ripple: The Biggest Crypto News of the Last Week
2:00 pm ▪ 4 min reading ▪ by Luc Jose A.
Between game-changing announcements, technological developments, and regulatory turmoil, the crypto ecosystem continues to prove itself as both a limitless territory for innovation and a battleground for regulatory and economic developments. Here’s a roundup of the most notable news stories from the past week regarding Bitcoin, Ethereum, Binance, Solana, and Ripple.
Bitcoin surpasses Visa and Mastercard in transaction volume
Bitcoin reached a historic milestone by surpassing Visa and Mastercard in terms of daily transaction volume. According to data from Glassnode, the leading crypto asset recorded a volume of $46.4 billion, compared to $6.5 billion for filtered economic transactions. This increase is due to increasing adoption and innovations such as the Runes protocol. With a market cap of around $1.3 trillion, Bitcoin is redefining traditional payment systems.
Binance may invest in US Treasuries
The world’s leading cryptocurrency exchange, Binance received approval to invest client funds in US Treasuries. This strategic decision allows the company to diversify investment options for its users. It offers greater security and stability compared to more volatile crypto assets. The announcement also led to a notable increase in the price of Binance Coin (BNB). This reflects investor confidence in Binance’s fund management and paves the way for similar initiatives.
JD Vance: Trump’s pro-Bitcoin running mate for 2024
Donald Trump chose Ohio Senator JD Vance as his running mate for the 2024 presidential election. Vance, known for his support of cryptocurrencies, owns between $100,000 and $250,000 in Bitcoin and advocates for a crypto-friendly legislative framework. The nomination is aimed at appealing to crypto-enthusiastic voters and marks a pro-crypto shift for Trump, who is now accepting cryptocurrency donations for his campaign.
Ethereum ETF hits the market on July 23
The long-awaited launch of the first Ethereum spot ETFs is scheduled for July 23, 2024, according to a recent confirmation The funds listed include the 21Shares Core Ethereum ETF (CETH) and the Fidelity Ethereum Fund (FETH). These ETFs offer a regulated and secure option for investing in Ethereum. They can attract more institutional investors and strengthen the legitimacy of the cryptocurrency market.
Whale transactions destabilize XRP price
Recent massive XRP transactions The whales’ actions have caused significant volatility in the token’s price. After accumulating over 130 million, these investors managed to push the price of XRP to 63 cents. However, the price of the cryptocurrency has since fallen by 8% to around 55.8 cents. These significant movements by large holders demonstrate their direct impact on the market and the difficulty in maintaining price stability in the short term.
That’s the essentials to remember this week. But if you’d like a more detailed recap and in-depth analysis delivered straight to your inbox, don’t hesitate to subscribe to our weekly newsletter.
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Luc Jose A.
A graduate of Sciences Po Toulouse and holder of a blockchain consultant certification issued by Alyra, I joined the Cointribune adventure in 2019. Convinced of the potential of blockchain to transform many sectors of the economy, I committed myself to raising awareness and informing the general public about this constantly evolving ecosystem. My goal is to enable everyone to better understand blockchain and seize the opportunities it offers. Every day, I strive to provide an objective analysis of the news, decipher market trends, relay the latest technological innovations and put the economic and social issues of this ongoing revolution into perspective.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author and should not be taken as investment advice. Please do your own research before making any investment decisions.